Binance is shutting down its bitcoin mining pool after hashrate crashed 65%
BTC when published $81,545Now $80,595 ▼ −1.17% since it was published
One of crypto's largest exchanges is walking away from bitcoin mining infrastructure at the exact moment Wall Street can't get enough of the asset itself. Binance told users on October 13 that it will shut down Binance Pool, its bitcoin mining pool, along with Pool Savings, Cloud Mining and its Transaction Accelerator, at 07:00 UTC on November 10. Miners still pointing hardware at Binance's Stratum URLs have until then to switch pools, because any hashrate submitted after the cutoff won't be credited or paid. The pool's historical data stays viewable until November 24, after which Binance says the pages come down for good. The timing is what makes this notable. Bitcoin is trading near $84,000, bitcoin ETFs keep pulling in fresh money, and corporate treasuries keep adding to their holdings.
First reported by Startup Fortune. This page is a short excerpt; the full text is theirs.
